Payment Gateways as the Backbone of E-commerce industry in Southeast Asia

 

In Southeast Asia, there are many payment gateways that provide the same services to the merchants, consumers, customers and others. They might look silmilar in terms of offering services such as online banking, MasterCard, VISA and cash on delivery. But, there are several differences among them. In order to make them well-known and owning high revenue, they must be different and create something that competitors do not do. Only then, people don’t see them as a similar yet typical payment service provider.

Southeast Asia region consists of 11 countries. The main countries that predicted to succeed in e-commerce are Thailand, Malaysia, Indonesia, Vietnam, Singapore and Philippines. This is because these six countries have the potential to grow due to the increasing number of internet and mobile users in their country and other factors. All these six countries will undoubtedly take over the world at any time soon.

Every region has listed the best payment gateways according to what the majorities are using. Same goes to realizing their existence. In other words, in the future, world might see them as a golden opportunity.

 

The Best Payment Gateway in Southeast Asia

As mentioned before, these six countries are predicted to be the best in e-commerce industry. So, the listed below are the best payment gateways in Southeast Asia:

Thailand – 2C2P, Paysbuy, and Omise.

Malaysia – MOLPay and iPay88.

Indonesia – Doku, Midtrans and Faspay

Vietnam – VTC Pay and NganLuong

Singapore – eNets

Philippines – Dragonpay, Paynamics and PesoPay

 

Why Payment Gateway?

Why payment gateways are needed in e-commerce? Here are some of the reasons that lead the payment gateway to be one of the sole contributors in helping the growth of e-commerce in Southeast Asia.

 

  1.   Payment gateways help the unbanked people

All these payment gateway players help the unbanked people to do some transactions and help in many other ways. They provide services that banks do not provide. All these payment gateways will help them to make purchase, to pay bills and others. So for unbanked people, this is the right platform for them to use. All these payment gateways make this group of people do not feel the gap between them and other people who have a lot of other options to make a payment.

Sources: TechinAsia and TechinAsia

 

  1.   Follow the trends

As we know, people nowadays are using a lot of mobile and internet. So, the payment gateways in Southeast Asia takes this opportunity to gain merchants, customers and consumers’ attention. They want all these groups to use their services. In order to gain that attention, all the payment gateway players need to be one step forward from others. For example, in Malaysia we have MOLPay as one of the best payment gateway. The features provided by MOLPay were very interesting and user-friendly. One of the reasons is, they already have their own MOLPay Apps for Android and IOS (Mobile SDK). In fact, they also provide other payment method such as MOLPay CASH.

Payment gateway also will use all the social networks to keep in touch with all its clients and to give information and others to the public. It helps a lot for payment gateways. For example, 2C2P with Facebook. It helps a lot because of the trends in Thailand. Read here!

 

Conclusion

To conclude, the best payment gateway in Southeast Asia is the key for e-commerce in Southeast Asia to be the leader. All these companies need to compete with each other, but by the time they are competing, they are helping the e-commerce in Southeast Asia to be in the same level with the e-commerce in other regions.